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Luge Capital General Partner Karim Gillani shares his FinTech predictions for 2021.
Banks hang on to branches despite pandemic shift to online banking (THE GLOBE AND MAIL)
The country’s five largest banks had a combined 8,686 branches as of Oct. 31, down about 6 per cent from a year earlier.
Robinhood has tapped $2.4 billion in funding on top of the $1 billion it raised after the online brokerage’s finances were strained due to a retail trading frenzy in heavily shorted shares of companies such as GameStop Corp.
Cashplus achieves full bank status (FINTECH MAGAZINE)
Cashplus, which was founded in 2005, offers digital current accounts and lending services to SMEs and consumers underserved by high street banks because of poor credit history.
Venmo’s debt-collection practices probed by CFPB (WALL STREET JOURNAL)
The payment app’s tactics — including threatening to send debt collectors after customers who are scam victims — have previously come under scrutiny.
Rise and fall of the house of Bitcoin (REST OF WORLD)
A Buenos Aires hacker haven produced some of Argentina’s most valuable crypto companies. Then it suddenly disappeared.
The company — funded by family members — is facing launch setbacks, widespread layoffs, and staff complaining of missed wages.
Personal finance apps like Albert tout a future where money management happens automatically with minimal human intervention.
Buy now, pay later to be regulated in the UK (TECHCRUNCH)
A further consultation with the industry is underway and then, when parliamentary time allows, new laws regulating buy now, pay later will be passed.